The Corpus Christi Rayz, or IceRays as they were formerly known, just completed their 10th season in the Coastal Bend, playing 6 seasons in the Memorial Coliseum before moving to the American Bank Center, which opened in fall of 2004.

"This is a sad day for me personally, as I watched this great sport develop in Corpus Christi for several years before we owned the franchise", said Frank. "I am truly disappointed that we have not secured qualified investors to maintain hockey here."

Any potential investor/owner of the franchise would be required to agree to purchase terms with WD Sports and then apply to the Central Hockey League for approval by the Board of Directors and Board of Governors. "We have had a great relationship with Doug (Frank) over the decade the Rayz have played in South Texas," said Rick Kozuback, President and CEO of Global Entertainment Corporation (AMEX: GEE), which operates the CHL through one of it's subsidiary companies. "We hope that in the very near future that hockey can once again become a staple in the Corpus Christi community and surrounding areas."

"Our business operations will continue for an indeterminate time to settle the final business affairs of the team, and we will continue to manage the last of the season ending issues with the team's contracted players and other personnel. Subject to several existing end of season player trade agreements, the remainder of our contracted player personnel will become unrestricted free agents at a time to be announced by the Central Hockey League. We wish to thank our season ticket holders, casual hockey fans and especially our group of extremely committed corporate sponsors over the years."